Australia's selection panel linked up by telephone late Sunday to choose the side they hope will retain the Frank Worrell Trophy won so convincingly in the Caribbean last year.
The team will be named Monday with the first Test getting underway in Brisbane on Friday.
Uppermost in their minds is picking a No.3 batsman capable of withstanding the Windies' four-pronged pace battery.
With veteran Steve Waugh now the backbone of the side at five, the two main candidates for No.3 are uncapped 25-year-old Elliott and 21-year-old Tasmanian Ricky Ponting.
Chappell, who led Australia to a 2-0 series triumph in the West Indies in 1972-73, left New South Wales lefthander Michael Bevan out of his 12 and included Queensland paceman Mike Kasprowicz.
Benaud, who was captain during the famous tied Test against the Windies at the Gabba in 1960-61, chose just four bowlers in his 12 to include Bevan, Ponting and Elliott.
Both men, television commentators, had Elliott at No.3 behind captain Mark Taylor and opening partner Michael Slater.
If Elliott is chosen, Bevan or Ponting will miss out despite playing in the one-off Test loss to India in New Delhi last month.
The lefthander was the Sheffield Shield player of the year last season, topping the first-class averages with 1,233 runs at 68.50 including five centuries (two doubles) and four 50s.
In the past nine days he has made 25 and 187 against New South Wales, then 158 against a second-string West Indies attack here.
Of equal concern is finding an Australian attack capable of taking 20 wickets.
Victorian seamer Paul Reiffel and leg spinner Shane Warne are certainties.
Test spearhead Glenn McGrath is racing the clock to overcome a blistered heel and won't bowl until Tuesday while Kasprowicz is playing his first-game back after German measles.
Jason Gillespie took just 1-84 for the Australian XI in the Windies first innings here Sunday but seems likely to play spot after three trips to the subcontinent this year.
A possible Test 12 is: Mark Taylor (capt), Michael Slater, Matthew Elliott, Mark Waugh, Steve Waugh, Ricky Ponting, Ian Healy, Shane Warne, Paul Reiffel, Glenn McGrath, Michael Kasprowicz, Jason Gillespie.